Sam and Bridget are cousins who jointly own property. They are both named on the deed, they received title at the same time, the

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3 years ago

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Sam and Bridget are cousins who jointly own property. They are both named on the deed, they received title at the same time, the

y have the right of survivorship, and they each have equal interest and undivided rights of possession. What type of ownership do they have?

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1 answer:

asambeis [7] · Answer 1 · 2022-05-28T18:34:58+03:00

Answer: The answer is JOINT TENANCY

Explanation: What is joint tenancy?

This is a legal arrangement whereby two or more people jointly own a property, in this arrangement, all owners have equal rights and obligations to the property. When one of the owners die, that owner's stake in the property goes to the surviving owners without having to pass through the court, because of the right of survivorship.

So the type ownership between Sam and Bridget above is a Joint Tenancy.